What type of financing or cash are you using to purchase?

Chaos and difficulties can sometimes lead to special chances to earn big prizes.

@Rami Latif - they might extend it if you need more time to come up with the cash

And then using the net cash to go wherever they want every year on vacation. 

You could preform a cash out refinance, the lender would use some of the cash out proceeds to pay off the back taxes at the closing.  

Run the common rent comps and compare that to your PITI and overall costs to analyze cash flow.

Recently, I had the opportunity to cash out a portion of my 401(k), leaving me with $20,000 burning a hole in my pocket.

Then we stayed in our fixer-upper, used HELOC to buy investment property cash, then get a cash-out mortgage and pay back HELOC once rented out with rental history to qualify, and do it again.

Purchase price: $485,000 Cash invested: $100,000 Originally on the market for $700,000.

(Most probably do FAR worse...)By contrast, private lenders are currently earning about 12% annualized interest on their money.And, getting exactly ZERO calls at 2am from unhappy tenants!